New statistics show British manufacturers having a weaker recovery than others in Europe

New statistics show British manufacturers having a weaker recovery than others in Europe

March 12, 2010 2:07 PM

A new release from Eurostat shows that industrial production across the eurozone rose by 1.7% in January. In Britain, it fell by 0.3%. That fits with a pattern in recent months of British industrial production having a weaker recovery than that in the eurozone, as is shown in the graph below. This is more confirmation that we are having a weak recovery. As I discussed earlier this week, the scale of the government debt crisis is hurting economic growth and spending cuts are needed to get the economy going again.

Industrial production, % change compared with previous month

A new release from Eurostat shows that industrial production across the eurozone rose by 1.7% in January. In Britain, it fell by 0.3%. That fits with a pattern in recent months of British industrial production having a weaker recovery than that in the eurozone, as is shown in the graph below. This is more confirmation that we are having a weak recovery. As I discussed earlier this week, the scale of the government debt crisis is hurting economic growth and spending cuts are needed to get the economy going again.

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